MassDevelopment

New Bedford Social Services Agency Improves Headquarters with MassDevelopment Financing

June 21, 2017


FOR IMMEDIATE RELEASE

Contacts:
Meggie Quackenbush, MassDevelopment, 617-330-2011 & 857-208-2777 (cell)
mquackenbush@massdevelopment.com

Jim Mazur, Child & Family Services Inc., 508-742-1026
jmazur@cfservices.org

MassDevelopment has issued a $2.9 million tax-exempt bond on behalf of Child & Family Services Inc. and 1843 Corporation, a related entity of Child & Family Services. The New Bedford nonprofit social-services agency is using bond proceeds to improve a mental health clinic it operates at the historic Russell Howland Home, the agency’s former headquarters located at 1061 Pleasant Street in New Bedford, and to invest in new IT equipment. The organization is also using bond proceeds to refinance past debt. East Boston Savings Bank purchased the bond.

“Whether matching children with mentors and loving adoptive families, or advocating for families coping with mental illness, Child & Family Services provides vital support services to South Coast residents,” said MassDevelopment President and CEO Marty Jones. “This bond will help the organization update its clinic and equipment, and continue delivering its quality services for years to come.”

Child & Family Services Inc. is a private, nonprofit human service agency that provides comprehensive services to children and families throughout Massachusetts. The organization’s licensed mental health clinics provide psychiatry, mental health assessment, and therapy for individuals, families, couples, and groups, as well as school-based counseling. Its community support programs serve children and families with mentorship, advocacy for young parents, case-management, and specialized outreach services designed to strengthen families. The organization’s adoption division includes services for children who have been in the custody of the Department of Social Services and who hope to be adopted and a post-adoption program designed to support adoptive families.

“We were thrilled to have the opportunity to work again with MassDevelopment as we continue to invest in the infrastructure that supports the work we do with children and families throughout Massachusetts. MassDevelopment has been an important partner and we look forward to working with them on future projects,” said Anne Sampaio, Executive Director of Child & Family Services Inc.

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2016, MassDevelopment financed or managed 352 projects generating investment of more than $4 billion in the Massachusetts economy. These projects are projected to create about 8,200 jobs and build or rehabilitate about 4,200 residential units.